Redundancy if handed notice in?

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bowf
bowf Posts: 67 Forumite
in Redundancy & redundancy planning
I'm a non-shareholding director of a company.
I think the writing is on the wall for the company, I'm now looking for alternative employment and may hand my notice in soon.
However, I think handing my notice in will be the straw that breaks the camel's back and the other two directors will pull the plug.
Would I still be entitled to redundancy if the decision to close the company is made AFTER I've handed my notice in?
Technically, I'd still be employed until my leaving date?
I've been here 30 years and I'm in a difficult 'stick or twist' situation where I don't know whether to wait for redundancy or just leave now and chance losing out on a payment.
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  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    Look at your contract. Typically you would not receive redundancy payments if you have declared your intention to leave.
  • bowf
    bowf Posts: 67 Forumite
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    I was assuming I would be claiming redudancy from the government, seeing as the company won't have any money. If claiming redundancy from the government, is the contract relevant? Fact is that even if you've handed your notice in, you are still employed until your leaving date.
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    bowf wrote: »
    I was assuming I would be claiming redudancy from the government, seeing as the company won't have any money. If claiming redundancy from the government, is the contract relevant? Fact is that even if you've handed your notice in, you are still employed until your leaving date.

    Theyl request any correspondence from between you and company. As soon as they find your notice letter, they will reject any claim for redundancy payment as you had voluntarily terminated your contract, all be it, working the notice period of said contract. Id work on the basis that its incredibly unlikely you will get redundancy pay if you quit. Thats not really how it works.
  • bowf
    bowf Posts: 67 Forumite
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    Ok, so let's say I stick it out and see what happens.
    Any reason I wouldn't be entitled to redundancy?
    As I said, I'm a director but don't have any shares.
    Just salaried and any bonuses have been at the discretion of the MD over the years (nothing fixed).
  • JCS1
    JCS1 Posts: 5,288 Forumite
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    Redundancy pay is capped at 20 years and £508 per week. Put the figures through a redundancy calculator on-line to see what you may get.


    And then work out how long the money would last you.


    You may find that seeking a new job would be the better option.
  • JCS1
    JCS1 Posts: 5,288 Forumite
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    Are you a Director registered at Companies House?
  • bowf
    bowf Posts: 67 Forumite
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    JCS1 wrote: »
    Are you a Director registered at Companies House?

    Yes, but not a share holding director.
  • bowf
    bowf Posts: 67 Forumite
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    JCS1 wrote: »
    Redundancy pay is capped at 20 years and £508 per week. Put the figures through a redundancy calculator on-line to see what you may get.


    And then work out how long the money would last you.


    You may find that seeking a new job would be the better option.

    That's the gamble.
    Take another job now, or wait and get £10K redundancy and try for another job then.
    Stick or twist.
  • JCS1
    JCS1 Posts: 5,288 Forumite
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    bowf wrote: »
    That's the gamble.
    Take another job now, or wait and get £10K redundancy and try for another job then.
    Stick or twist.



    I think a lot depends on your personal circumstances. Do you have family to support? Do you have savings? Do you have debts?


    Not asking for answers by the way, just some ideas to think about.
  • bowf
    bowf Posts: 67 Forumite
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    @JCS1 can I ask why you asked if I'm registered as a director at companies house?
    Does this somehow affect my entitlement to redundancy?
    My mother was a non-shareholding director of a company, she got redundancy.
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